topic Re: Should I apply for Venture? in Credit Card Applications

Should I apply for Venture?

Anonymous — Tue, 28 Jun 2016 16:47:54 GMT

I am very interested in applying for the Capital One Venture Card. I am prequalified for Quicksilver and Venture at the lowest interest rates. However, in the last 2 months I have app'd for and have been approved for 11k CSP, 7.5k Discover IT, 2k Amex Everyday and 2k Citi Double Cash. Citi gave me the low limit because I already have a Simplicity card 19k with them. I also have 15k PNC Core, 10k Chase Slate and 4k Best Buy.

Transunion 759 - 2 Inquiries

Equifax 764 - 3 Inquiries

Experian - ?

I have over a 10 year credit history, NEVER LATE on anything EVER. 63k income.

What does everyone think.....? App now and risk a 5k limit or wait a few months and have a better chance at a 10k-15k limit? This is my first post and any advise would be much appreciated.

Re: Should I apply for Venture?

Anonymous — Tue, 28 Jun 2016 16:55:27 GMT

I would guess you'd be approved with a 10K SL if I used my best judgment based on your stats. Possibly more.

Re: Should I apply for Venture?

Anonymous — Tue, 28 Jun 2016 17:11:33 GMT

That would be awesome. If so, I would be done with opening new lines for a while. I figure if I group all of these apps together, the inquiries will fall off around the same time. My main concern is getting approved for a car. My lease is up in about 14 months. Should be interesting to see what tier I get approved at with all these new credit lines....

Re: Should I apply for Venture?

MauiMan85297 — Tue, 28 Jun 2016 17:59:10 GMT

I would say you would get approved for a min of 15k with those siggy's and your recent inq's, good luck and let us know.

Re: Should I apply for Venture?

Anonymous — Tue, 28 Jun 2016 18:39:24 GMT

The Capital One pre-qualifer is pretty accurate. If they are pre-qualifiying you for the lowest interest rate then you have a really good chance of getting approved and getting a pretty high SL. Good luck if you decide to go for it.

Re: Should I apply for Venture?

Anonymous — Tue, 28 Jun 2016 20:01:16 GMT

So the only thing that concerns me now is Experian.I went ahead and downloaded the Experian app to see how many inquiries I have and..... I have 4 recent inquiries (2 chase, Amex & Citi) and one old one thats getting ready to be removed in December. I'm debating now... Will Capital One look at these inquiries as desperate?

Re: Should I apply for Venture?

Anonymous — Tue, 28 Jun 2016 20:03:17 GMT

4 inquiries aren't going to matter

Re: Should I apply for Venture?

Anonymous — Tue, 28 Jun 2016 20:03:48 GMT

You'd need about 40 more for Capital One to think you are desperate lol

Re: Should I apply for Venture?

RonM21 — Tue, 28 Jun 2016 21:39:21 GMT

Welcome to the forum Coach. I think it is highly likely you'll get approved with a nice sarting limit. Your profile seems to be in nice shape, and the inquiries are not a cause for concern. Now, ymmv with anything, but still....

Re: Should I apply for Venture?

Anonymous — Tue, 28 Jun 2016 23:14:46 GMT

You'll get at least 15k.

Re: Should I apply for Venture?

Anonymous — Wed, 29 Jun 2016 00:46:44 GMT

Keep us posted.

Re: Should I apply for Venture?

Anonymous — Wed, 29 Jun 2016 01:39:47 GMT

Welcome to the boards. OP, in 4/16 I apped for the Venture with scores in the low 700's, +10 inq's than you on EQ and +7 inq's on TU. 4 new cards within 6 months of apping and two 30 days lates from 2.5 years ago on C1 cards. I was instantly approved for $15k on my Venture; I would be shocked if you weren't approved with a five digit limit. Good luck.

Re: Should I apply for Venture?

bourgogne — Wed, 29 Jun 2016 05:58:12 GMT

OP, I had a single card with cap1 that went from 300>12300 with scores not even close to yours and they gave me 20K. you should get from 15-25K based on your data and the apr they quoted you. post back when you pull the trigger and good luck!

Re: Should I apply for Venture?

Anonymous — Wed, 29 Jun 2016 20:17:07 GMT

After much deliberation I have decided to stay in the garden for at least a year. I was going after the Venture for all the wrong reasons and probably would not have used it. After my year is up, I am going to app for the Chase Marriott Rewards card and possibly Citi's new Costco card (which I would use A LOT).

Re: Should I apply for Venture?

Anonymous — Wed, 29 Jun 2016 23:08:58 GMT

It sounds like you have an immediate use for the Costco card. A few inquiries is nothing to fret, at all. And Citi is known to be good with SP CLI's. It's possible whatever limit they may grant you in a year, you could end up with anyway after some CLI's.

If you plan to be over 800 in a year, then holding out on the Chase card could prove worthwhile.

Just my 2 cents. But you've got your plan, follow your gut.